NEAR Protocol price weighs governance-backed issuance cut
Published on 11/13/2026 at 13:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSNEAR governance changes supply outlook
- NEAR's House of Stake approved HSP-029, which would lower maximum annual issuance from 2.5% to 1.6% over 24 months.
- The change is not yet binding: Security Council review, a 90-day grace period and validator adoption remain necessary.
- The proposal estimates 11.8 million fewer NEAR issued over two years, while projected gross staking yield would decline from 5.268% to 3.372%.
NEAR Protocol's governance has approved a change that could slow future token supply growth, but the reform is not active yet. The House of Stake passed proposal HSP-029 on November 2, according to The Block. It would reduce NEAR's maximum annual issuance rate from 2.5% to 1.6% over 24 months.
Approval is not implementation
The vote advances the proposal but does not immediately alter the network's parameters. As reported by Unchained, republished by Yahoo Finance, the House of Stake Security Council must first review the result. A roughly 90-day grace period would follow, and validators would then need to adopt a protocol upgrade before the change becomes binding.
The reduction would be phased in each network epoch rather than applied at once. The ceiling would decline by roughly 3.75 basis points per month and reach 1.6% in month 24. The existing allocation of newly issued tokens would remain unchanged: 90% to staking participants and 10% to the NEAR treasury.
Lower dilution, lower staking yield
According to The Block, the proposal estimates that 11.8 million fewer NEAR would be issued during the first two years and 66.1 million fewer over six years compared with the current ceiling. Daily issuance is projected to fall from approximately 89,500 NEAR to 57,300 NEAR once the full target is reached.
That supply benefit comes with a trade-off for stakers. The same proposal projects gross staking yield declining from 5.268% to 3.372%, assuming the staking participation rate measured in September remains unchanged. Actual returns can differ because participation, validator fees and token prices may change.
Price context for NEAR
The retrieved Investing.com NEAR/USD page listed the token at 3.6302 USD, with a displayed 24-hour volume of 645.57 million USD and a market capitalization of 4.75 billion USD. The page also showed a 52-week range of 0.8482 to 5.9725 USD. These figures are a market snapshot rather than evidence that the governance decision caused a particular price move.
For investors, the key distinction is timing. HSP-029 may reduce long-term dilution if the remaining approval and technical steps are completed, but the current 2.5% ceiling remains the relevant parameter until implementation. At the same time, lower issuance would reduce the number of new tokens accruing to stakers. The NEAR Protocol price therefore remains exposed to both supply expectations and the broader crypto market.
More coverage is available on the NEAR Protocol topic page.
